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Lanco Infra Ties up 5,500-cr Debt for Chhattisgarh Plant

30 Mar 2011 Evaluate

Lanco Infratech has raised debt of Rs. 5,500 crore from a consortium of financiers led by state-run Power Finance Corporation to finance its upcoming 1,320 megawatts (MW) power generation unit in Chhattisgarh. Lanco Infratech is adding two units of 660 MW each at the coal fuelled Amarkantak power project in Chhattisgarh at a total project cost of around Rs. 7,000 crore.

It already has an operational capacity of 600 MW at the location. The two expansion units are scheduled to be commissioned in phases by 2014. The company has raised the debt at an average rate of around 12-12.5%. Lanco Infratech operates in the infrastructure space both as a developer as well as a contractor of primarily power and road projects. The power business currently accounts for around 55% of the company’s revenue. 

The company has an operational power generation capacity of 2,100 MW, of which almost 75% is fuelled by coal. It plans to raise its capacity to 4,000 MW by 2011 and subsequently to 15,000 MW by 2015. The company has projects totaling 7,224 MW at different stages of construction. After raising the debt for the Chhattisgarh unit, it has now tied up financing for its entire power generation projects portfolio. crackcrack

Peers
Company Name CMP
Larsen & Toubro 4050.00
Rail Vikas Nigam 296.30
NCC 160.45
KEC International 559.60
Kalpataru Projects 1240.45
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